American Express Co. (AXP) Earns “Hold” Rating from Evercore ISI
American Express Co. (NYSE:AXP)‘s stock had its “hold” rating reiterated by equities researchers at Evercore ISI in a research note issued on Saturday.
Several other equities research analysts have also recently commented on AXP. Nomura reissued a “hold” rating on shares of American Express in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of American Express in a research report on Thursday, July 21st. Jefferies Group reaffirmed a “hold” rating and set a $60.00 target price on shares of American Express in a research report on Thursday, July 21st. DA Davidson reaffirmed a “neutral” rating and set a $66.00 target price on shares of American Express in a research report on Friday, July 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Thursday, July 21st. Nine investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have given a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and an average price target of $67.88.
Shares of American Express (NYSE:AXP) opened at 60.15 on Friday. The company has a 50 day moving average of $63.87 and a 200-day moving average of $63.60. The company has a market cap of $55.57 billion, a price-to-earnings ratio of 10.64 and a beta of 1.24. American Express has a 52 week low of $50.27 and a 52 week high of $77.61.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.15. The business earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 EPS. On average, equities research analysts expect that American Express will post $5.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from American Express’s previous quarterly dividend of $0.29. American Express’s dividend payout ratio (DPR) is currently 22.54%.
Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock worth $1,512,449,000 after buying an additional 12,544,274 shares in the last quarter. Dodge & Cox raised its stake in American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock worth $1,618,520,000 after buying an additional 9,222,970 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in American Express during the second quarter worth approximately $111,313,000. International Value Advisers LLC acquired a new stake in American Express during the second quarter worth approximately $83,148,000. Finally, Renaissance Technologies LLC acquired a new stake in American Express during the first quarter worth approximately $66,459,000. 82.17% of the stock is currently owned by institutional investors.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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